VIETNAM TRADE LOOKS FORWARD TO BETTER RESULTS WITH MORE ACTIVE ACTIONS.
VIETNAM TRADE LOOKS FORWARD TO BETTER RESULTS WITH MORE ACTIVE ACTIONS.
From the good news of the GSO, we see a lid of light from several efforts from governmental agencies and local enterprises. In general, in June, goods’ total import and export turnover was estimated at 56.01 billion USD, up 3.6% over the previous month and down 14.1% over the same period last year. Generally, in the first 6 months of 2023, the total import and export turnover of goods reached 316.65 billion USD, down 15.2% over the same period last year, of which exports decreased by 12.1%; imports decreased by 18.2%. The trade balance of goods in the first 6 months of 2023 is estimated to have a trade surplus of 12.25 billion USD.
However, looking deeply at the figures, only a few agri-products achieved good records with significant volumes like vegetable and fruit products, coffee, rice, and cashew nut mainly imported into China, the largest import country of Vietnam. In contrast, other products made negative results, even the main industrial products to the US – the largest export market of Vietnam. We all know the main reasons behind that despite the implementation of countermeasures, inflation is still high, and the economies of countries are still facing the risk of economic decline. Many large banks are in a difficult situation in the United States and Europe. The more robust policy response of the Central Banks in the direction of monetary tightening has affected the investment and consumption demand of the economy, which has faced many difficulties since the end of 2022. Affected workers have impacted import demand for non-essential consumer goods,
We, Voltrans Logistics, are looking for an action plan from the government to come into force with good results in the second half of 2023, including support to remove difficulties for enterprises in administrative works, capital investment, promoting import/export programs, market information and trade, FTAs, logistics improvement, using more online tools in import/export documentation include C/O. These are essential and practical effects on the Vietnam trade.
By Thomas
Voltrans Logistics – Your Ware Our Care